Flynas expects to turn profitable in 2014
Saudi airline Flynas has said it aims to grow at least 20% annually and expects to turn profitable in 2014 after seven years of losses, Reuters has reported. “Until now we are actually not making a profit, but we hope to cross over this year. We have to grow very quickly and get critical mass,” flynas CEO, Raja Azmi, told the news service. “We need to grow at least 20% a year. God willing, we hope to make a profit this year – it won’t be much but it will be a profit.” Flynas currently carries three million passengers annually and claims 15-18% of the domestic air travel market; its growth plan envisages achieving a market share of 30% over the next two years and passenger numbers hitting 20 million annually by 2020, Azmi said.